Summary: J.P. Morgan Secs PUTTERs & DRIVERs Trust Series 2449 Jan 08

AbstractJ.P. Morgan Securities, Inc., puttable tax-exempt receipts, series 2449 relating to the Port Authority of New York and New Jersey's consolidated bonds, 149th series are rated 'AA-/A-1+'. The long-term component of the rating is based on the 'AA-' rated the Port Authority of New York and New Jersey's consolidated bonds, 149th series. The short-term component of the rating is based on a liquidity facility provided by PNC Bank, National Association, scheduled to expire Jan. 15, 2009. The receipt holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in the documents. The short-term portion of the rating does not apply to any receipts that are designated "restricted PUTTERs" pursuant to...

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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